For some reason, money is a perplexingly taboo subject. In fact, people feel more comfortable talking about sex than money.
In 1913 Sigmund Freud wrote, “money questions will be treated by cultured people in the same manner as sexual matters, with the same inconsistency, prudishness and hypocrisy.”
And yet, in an age of open communication about many aspects of society, it seems strange that money should remain on the list of taboo topics that people are unwilling to talk about.
Especially with their significant other.
Recently, we came across an article written by Janet Alvarez on this very topic. Many of the points she raised resonated, so we wanted to share them with you.
This hesitation that we have for talking about money is stopping us from having essential conversations. It removes the joint decision making process that can benefit our household finances and increases the stress and worry surrounding the money (or lack of) in your collective bank accounts.
So, how can we remove the fear, embarrassment and uncomfortable feelings around seeking financial advice to save our own physical and emotional health?
Well, it’s time to break the money taboo!
Talking about money is about like talking about politics, religion or relationships. There might be uncomfortable emotions and conflict in those conversations, but we have learnt to handle them despite that.
Think about how you grew the confidence to talk about those subjects and apply the same tactics to your money conversations.
Something that might help you is the fact that you are not alone – money concerns are universal. In fact, more than 77% of Americans have reported feeling anxious about their financial situation and it is no different here in NZ.
It is also important to understand your money emotions. Think about the emotions you currently experience when you think about money. It could be shame over debt, fear about your lack of knowledge, or something else entirely.
If you can identify these emotional triggers, it helps you to think rationally without blowing things out of proportion.
Build your money confidence by connecting with the right people.
Money conversations can vary greatly depending on the circumstances involved, so identifying safe contacts that you can talk with helps you to make sense of any problems. Here at the Money Mentalist, we specialise in helping you be better with the money you already have.
The online space can be a great resource to get educated. We have a huge library of articles that can help you learn more about various money topics. Our free Facebook group is also a way to get support for any question you might have.
If you find that you’re not winning the battle against financial anxiety and need someone to talk to, talk to us.
When you are ready to talk about your money taboo, we are here to listen. Drop us an email or click on this link to find a day and time that suits you to have a chat with us. We’re really very friendly and best of all, it’s absolutely free!
This piece was adapted from an article written by Janet Alvarez, a veteran financial journalist who serves as the Executive Editor of personal finance publication WiseBread.